Kalmar acquires service business in Australia

CARGOTEC CORPORATION, PRESS RELEASE, 21 DECEMBER AT 11 AM (EET)

Kalmar, part of Cargotec, has signed an agreement to acquire the port services business of Inver Engineering in Australia. The investment in Inver Port Services supports Kalmar's strategic aim to grow in services while strengthening and broadening Kalmar's existing service capabilities throughout Australia, New Zealand and the Pacific. The acquisition will be closed on 29 December 2017.

Inver Engineering is a privately owned company established in Melbourne, Australia in 1981 servicing ports, rail, petrochemical, oil and gas and manufacturing industries. Inver Port Services, part of Inver Engineering, has a strong track record in providing repairs, maintenance and crane refurbishment projects for major terminal operators across Australia, New Zealand and the Pacific. Inver Port Services sales account for approximately EUR 5 million and it employs 23 people.

Peter McLean, Senior Vice President, Kalmar Asia-Pacific, said: "We are excited to welcome the Inver Port Services team to Kalmar Australia. The region is a strategically important market for Kalmar and this acquisition further strengthens our capabilities to serve our customers in ports and terminals across the region. Furthermore, we see great synergies in building our current offerings with Inver Port Services and providing our customers with a more comprehensive range of services. Inver's strong brand and good reputation among their customers will help us take the next step in executing our services strategy."

Stuart Smith, Director, Inver Port Services, said: "Kalmar's investment into Inver Port Services provides an excellent platform for the further development of Inver Port Services' personnel competencies, enabling us to better support our existing customers throughout the region and expand our business globally."

Kalmar has the market's widest service network with a total of 1,500 service staff in more than 100 countries. Kalmar's services portfolio consists of maintenance contracts and technical support, parts, training and crane upgrade projects.

Kalmar offers the widest range of cargo handling solutions and services to ports, terminals, distribution centres and to heavy industry. Kalmar is the industry forerunner in energy efficient container handling, with one in four container movements around the globe being handled by a Kalmar solution. Through its extensive product portfolio, global service network and ability to enable a seamless integration of different terminal processes, Kalmar improves the efficiency of every move. http://www.kalmarglobal.com

Kalmar is part of Cargotec. Cargotec's (Nasdaq Helsinki: CGCBV) sales in 2016 totalled approximately EUR 3.5 billion and it employs over 11,000 people. www.cargotec.com

About Inver Engineering

Inver Engineering was established in 1981 to service local industry of metropolitan Melbourne. Since then, Inver has developed into a substantial and respected engineering company serving businesses across the ports and stevedoring, rail, petrochemical, oil and gas and manufacturing industries - Australia wide.

Inver is known for their wealth of engineering experience and knowledge, which enables them to deliver innovative and cost effective solutions. Customer satisfaction is critical to Inver's success and the key to this is communication. We endeavor to clearly understand the customers' needs and expectations at the outset, then we plan on meeting them in a safe and cost effective manner.